Have you had a contract go south due to an FHA appraisal? Here are 10 simple steps to follow if you are expecting an FHA appraisal, compliments of Don Taylor, Certified Residential Appraiser.
1. Peeling paint on homes built prior to 1978.
2. Roofing with less than 2 years of remaining life.
a. Curling shingles.
b. Water stains on the ceiling.
c. Mismatched or missing shingles.
3. Windows either cracked or painted shut.
a. Window wells without covers.
b. Windows with burglar bars.
4. Utilities must be on and in working order.
a. Water must be on and working at all faucets and toilets not just on at the main.
b. Gas must be on to the furnace.
5. Plumbing should not leak and drains should be running.
a. Missing or uneven stairs.
b. Missing handrails for stairs with over 3 steps.
7. Foundation problems:
a. Cracked foundations are more of a problem than cracked floors.
b. Porches that have settled causing uneven steps.
8. Poor drainage:
a. Inadequate landscaping that allows water to settle next to the foundation.
b. Leaking or missing gutters and/or drain extensions.
a. Missing or non-working outlets.
b. Loose and exposed wiring.
10. Inadequate access to the attic.
Lenders are requiring an additional statement in appraisals that at least a head and shoulders inspection was made. Hope this helps!